9 unchanged sentences
Our primary exposure to interest rate risk results from outstanding borrowings under the Credit Agreement, which bears interest at variable rates.
−Removed: As of June 30, 2025, the outstanding debt under the Credit Agreement subject to interest rate fluctuations was $376.9 million.
+Added: As of September 30, 2025, the outstanding debt under the Credit Agreement subject to interest rate fluctuations was $371.3 million.
The variable interest rates on the Credit Agreement fluctuate and expose us to short-term changes in market interest rates as our interest obligation on this instrument is based on prevailing market interest rates.
1 unchanged sentence
We have entered into an interest rate swap agreement to convert the variable interest rate on the balances outstanding under our Credit Agreement to fixed interest rates.
−Removed: The objective of the interest rate swap agreement is to eliminate the variability of the
−Removed: interest payment cash flows associated with the variable interest rate outstanding under the borrowings.
+Added: The objective of the interest rate swap agreement is to eliminate the variability of the interest payment cash flows associated with the variable interest rate outstanding under the borrowings.
We designated the interest rate swaps as cash flow hedges.
−Removed: Refer to Note 7, “ Derivatives and Hedging Instruments ” , for further information on our interest rate swap contracts in effect as of June 30, 2025.
+Added: Refer to Note 7, “ Derivatives and Hedging Instruments ” , for further information on our interest rate swap contracts in effect as of September 30, 2025.
Commodity Price Risk
In the normal course of business, we are exposed to market risk related to our purchase of steel, a significant raw material upon which our manufacturing depends.
−Removed: Steel cost started to stabilize by the end of 2024 and began to raise again later part of the first six months of 2025 .
+Added: Steel cost started to stabilize by the end of 2024 and began to raise again later part of the first nine months of 2025 .
While steel is typically available from numerous suppliers, the price of steel is a commodity subject to fluctuations that apply across broad spectrums of the steel market.
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.